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A story of the wealthiest: income and wealth mobility among tax filers in Colombia

Author

Listed:
  • Alejandro Montoya Castaño

    (Pontificia Universidad Javeriana)

  • Luis Fernando Gamboa Niño

    (Pontificia Universidad Javeriana)

Abstract

This document analyzes income and wealth mobility and changes in income inequality in Colombia between 2014 and 2022, with a focus on gender and taxation. Colombia has one of the highest levels of income inequality in the world, making economic mobility a critical issue. Our results suggest that there is a bittersweet sense of mobility. On the one hand, there is significant income mobility, indicating that within less than a decade, individuals are likely to move from the bottom to the top income percentiles. On the other hand, this mobility is not effectively reducing income inequality or gender disparities. Specifically, income mobility is more pronounced among men, who experienced higher gains or milder losses, and are overrepresented in the top income percentiles. Taxation appears to have a limited impact on mitigating these inequalities, suggesting the need for further research in this area.

Suggested Citation

  • Alejandro Montoya Castaño & Luis Fernando Gamboa Niño, 2024. "A story of the wealthiest: income and wealth mobility among tax filers in Colombia," Revista Outlier, Universidad Javeriana - Bogotá, vol. 24(3), pages 1-22, August.
    • Handle: RePEc:col:000440:021411
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    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • H24 - Public Economics - - Taxation, Subsidies, and Revenue - - - Personal Income and Other Nonbusiness Taxes and Subsidies

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